UBS Group Issues Positive Forecast for Elastic (NYSE:ESTC) Stock Price

Elastic (NYSE:ESTC) had its price target hoisted by UBS Group from $140.00 to $148.00 in a research report sent to investors on Friday,Benzinga reports. The firm currently has a buy rating on the stock.

Other analysts have also issued research reports about the company. Oppenheimer upped their target price on Elastic from $125.00 to $140.00 and gave the stock an “outperform” rating in a report on Friday, November 22nd. Royal Bank of Canada upped their price target on Elastic from $110.00 to $130.00 and gave the stock an “outperform” rating in a research report on Friday, November 22nd. Needham & Company LLC reaffirmed a “hold” rating on shares of Elastic in a research report on Friday, November 22nd. Piper Sandler upped their price target on Elastic from $130.00 to $135.00 and gave the stock an “overweight” rating in a research report on Friday. Finally, DA Davidson upped their price target on Elastic from $75.00 to $115.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. Seven investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Elastic currently has an average rating of “Moderate Buy” and an average target price of $131.09.

Elastic Stock Up 14.9 %

Elastic stock opened at $116.38 on Friday. The business has a fifty day moving average of $105.85 and a two-hundred day moving average of $95.51. The company has a quick ratio of 1.99, a current ratio of 1.99 and a debt-to-equity ratio of 0.70. The firm has a market cap of $12.06 billion, a P/E ratio of 211.61 and a beta of 1.07. Elastic has a twelve month low of $69.00 and a twelve month high of $136.06.

Elastic (NYSE:ESTC) last posted its earnings results on Thursday, February 27th. The company reported ($0.01) earnings per share for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.48). The company had revenue of $382.08 million for the quarter, compared to analysts’ expectations of $368.85 million. Elastic had a negative return on equity of 13.20% and a net margin of 4.39%. On average, analysts forecast that Elastic will post -0.77 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Elastic news, CEO Ashutosh Kulkarni sold 7,017 shares of the stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $108.12, for a total transaction of $758,678.04. Following the sale, the chief executive officer now directly owns 395,326 shares of the company’s stock, valued at approximately $42,742,647.12. This trade represents a 1.74 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 15.90% of the stock is owned by insiders.

Institutional Investors Weigh In On Elastic

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ESTC. Geneos Wealth Management Inc. purchased a new stake in shares of Elastic during the 4th quarter worth about $25,000. SBI Securities Co. Ltd. purchased a new stake in shares of Elastic during the 4th quarter worth about $25,000. Fourth Dimension Wealth LLC purchased a new stake in shares of Elastic during the 4th quarter worth about $26,000. Venturi Wealth Management LLC boosted its stake in shares of Elastic by 793.3% during the 4th quarter. Venturi Wealth Management LLC now owns 268 shares of the company’s stock worth $27,000 after acquiring an additional 238 shares in the last quarter. Finally, Smartleaf Asset Management LLC boosted its stake in shares of Elastic by 126.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 283 shares of the company’s stock worth $28,000 after acquiring an additional 158 shares in the last quarter. 97.03% of the stock is owned by institutional investors and hedge funds.

Elastic Company Profile

Elastic N.V., a data analytics company, delivers solutions designed to run in public or private clouds in multi-cloud environments. It primarily offers Elastic Stack, a set of software products that ingest and store data from various sources and formats, as well as performs search, analysis, and visualization on that data.